DCA Blog

How Charging Orders Might Protect You From Your Co-Owner’s Personal Debts

Asset protection can be a major challenge when personal and business worlds collide. What if, for instance, your business partner is found liable to pay a judgment arising from personal debt? If your business entity is an LLC, it will be protected by legislatively prescribed limits to a creditor’s ability to collect from the member. The Michigan Limited Liability Company Act (MLLCA) states that a charging order is the “exclusive remedy” by which a judgment creditor of an LLC m ...

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Student Loan Collections

Thousands of college graduates—out of school for ten years or more—have recently been sued by a student loan company previously unknown to them. Most of these graduates are completely surprised when they are served with a collection lawsuit, when they truly thought all their loans had been paid off. Some Loans Fall Through the Cracks Why does this happen? These graduates erroneously believed that whatever money they borrowed for school was all rolled up into their consolidated repa ...

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Michigan's No-Fault Auto Insurance Revisited

Michigan’s no-fault automobile insurance system was designed in 1973 to guarantee a certain level of benefits to persons injured in car accidents, ensure timely payment of those benefits, and reduce administrative and legal costs. Requirements for Auto Insurance The no-fault system requires the insured to carry unlimited lifetime benefits for personal injury protection (PIP). This includes unlimited medical and rehabilitation benefits, as well as wage loss benefits for up to three ye ...

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Arbitration for all: The Diminishing Ability to File Consumer Class Action Lawsuits

Arbitration Clauses In 2016, DCA published an article on arbitration clauses, which are found in almost every modern contract. The use of such clauses increased dramatically after two Supreme Court decisions, one in 2011, and another in 2013. Now, thanks to these rulings, businesses often force customers and employees into arbitration through small, “fine print” contract clauses. These clauses require contracting parties to resolve future disputes through a private process inste ...

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Can a Consumer Fix a Bad Credit Report?

The Fair Credit Reporting Act (“FCRA”) is a federal law that regulates credit reporting agencies. The FCRA compels these agencies to ensure that their reporting results in a fair and accurate summary of a consumer's credit history and was authored to protect consumers from damaging misinformation. Knowing Your Rights Maintaining a strong credit history is key to obtaining competitive interest rates on auto loans, mortgages, and other consumer purchases. Negative information on a cr ...

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